Which Article provides the President with the power to declare Financial Emergency?
Show answer & explanation
Correct answer: C
Explanation
Article 360 of the Indian Constitution empowers the President to declare a financial emergency. The President may issue this proclamation if he believes that the financial stability or creditworthiness of India or any part of the country is threatened. However, a financial emergency has never been imposed in India.
Article 352: Deals with a National Emergency.
Article 356: Deals with President's Rule in the event of a failure of constitutional machinery in the states.
Article 360: Deals with a Financial Emergency.